Why Adelson Could Blow $53 Million

Photograph by Philippe Lopez/AFP via Getty Images

Sheldon Adelson, left, and his wife Miriam look at a model of the Cotai Sheraton hotel after a press conference in Macau.

Sheldon Adelson, chairman of Las Vegas Sands Corp., and his wife Miriam spent $53.4 million on the 2012 elections, only to see most of their favored candidates go down to defeat.

Among their biggest losses: $20 million to the super-political action committee backing Republican Mitt Romney, who lost to President Barack Obama, and $15 million to the super-PAC supporting Newt Gingrich, who lost the Republican presidential nomination to Romney.

Adelson is recovering any losses — and more — this week.

The company he leads voted to pay a special dividend next month worth $1.2 billion to Adelson and his wife. And they’ll collect $611 million annually as a result of the company’s decision to boost its regular dividend.

That should help his standing in the Bloomberg Billionaires Index, which lists Adelson as the world’s 25th richest person, with an estimated worth of $20.7 billion.

See the full story at Bloomberg.com.

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